Thursday, May 24, 2012
ExxonMobil's loyaltiesFrom David Kamp, Book Review: 'Private Empire,' by Steve Coll Bloomberg Businessweek 05/18/2012:
There’s a startling scene early in Steve Coll’s Private Empire in which Lee Raymond, then the chief executive of ExxonMobil, speaks with offhanded candor about where his loyalties lie. Asked by an industry colleague if his company might consider building more refineries domestically, the better to protect the U.S. from potential gasoline shortages and security crises, Raymond shrugs off the question. "I’m not a U.S. company," Raymond says, "and I don’t make decisions based on what’s good for the U.S."Raymond also claims not to believe in global warming.
And as more countries assert sovereign control over their energy resources, as Argentina did just this year with its nationalization of 51% of the YPF oil company, a stateless corporation has to reach further and further to find resources over which it can exercise corporate sovereignty:
Much of the world’s oil and gas is now in the hands of state-owned companies in countries hostile to the U.S., such as Iran and Venezuela. As such, ExxonMobil has had to look increasingly far afield, to countries it euphemistically labels “transitional” and internally acknowledges as unstable and corruption-riddled—conflict-riven developing nations such as Nigeria, Chad, and Equatorial Guinea.
Coll appeared on Democracy Now! talking about his book, Private Empire: Author Steve Coll on State-Like Powers, Influence of Oil Giant Exxon Mobil 05/04/2012:
Here is Part 2 of that interview, ExxonMobil's Dirty Secrets From Indonesia to Nigeria to D.C.: Steve Coll on "Private Empire" 05/07/2012:
This is a Bloomberg Businessweek video of an interview with Coll; it says it's the second part of the interview, but I haven't been able to find Part 1.
Tags: exxonmobile, steve coll
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Defend the bad against the worse."
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